Dublin, July 04, 2024 (GLOBE NEWSWIRE) -- The "Vietnam In Vitro Fertilization Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Vietnam In Vitro Fertilization Market was valued at USD 141.40 Million in 2023 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.46% through 2029
The Vietnam In Vitro Fertilization (IVF) market is being driven by several key factors contributing to its growth. Increasing awareness and acceptance of IVF procedures among Vietnamese couples, coupled with rising infertility rates due to factors such as delayed parenthood, lifestyle changes, and environmental influences, are significant drivers.
Improvements in healthcare infrastructure and the availability of advanced medical technologies in urban centers further enhance accessibility to IVF treatments across the country. Supportive government policies aimed at promoting reproductive health and family planning services have fostered a conducive environment for the expansion of the IVF market. As societal attitudes towards fertility treatment continue to evolve positively, the demand for IVF services in Vietnam is expected to rise, driving the market's growth trajectory in the coming years.
Key Market Drivers
Rise in Infertility Rate
Infertility in women is mainly caused due to endometriosis, polycystic ovary disease, or obstruction of two uterus linings. Infertile men lack sperm due to testicular dysfunction, retrograde ejaculation, or insemination system obstruction. Sperm production or function can be affected by overexposure to certain environmental elements, including Industrial chemicals.
Rise in Medical Tourism
Vietnam is a popular destination for medical tourists seeking in-vitro Fertilization treatment, beauty, or dental care. The costs in Vietnam are reasonable, and the services are excellent. Travel agencies have collaborated with hospitals to plan medical tours, emphasizing the accessibility and high standards of these facilities, which appeal to tourists.
Rising Demand for Artificial Insemination
Due to the rising incidence of diseases, including erectile dysfunction and polycystic ovary syndrome, the risk of infertility is rising in Vietnam. Complications could arise due to significant lifestyle adjustments and the growing preference of working women to conceive later in life. Various things, including stress, alcohol consumption, lifestyle modification, and decreased sperm count and motility, causes infertility problems in men. A persistent rise in the prevalence of infertility in both sexes causes the need for artificial insemination.
Expansion of Healthcare Infrastructure
The expansion and modernization of healthcare infrastructure in Vietnam, particularly in its urban centers, represent a pivotal factor driving the growth of the IVF market. As the country undergoes rapid economic development, significant investments have been directed towards upgrading medical facilities and enhancing healthcare services. This includes the establishment of specialized fertility clinics equipped with state-of-the-art equipment and facilities dedicated to reproductive health.
Key Market Challenges
Cost and Affordability
One of the primary challenges for the Vietnam IVF market is the cost associated with fertility treatments. IVF procedures can be expensive, often requiring multiple cycles for success, which places a financial strain on many couples. The high cost of medications, laboratory procedures, and specialist consultations can deter some individuals from pursuing IVF, particularly those with limited financial resources.
Limited Access to Advanced Technologies
While urban centers in Vietnam have seen significant advancements in healthcare infrastructure, rural areas may still lack access to specialized fertility clinics and advanced IVF technologies. Disparities in healthcare access between urban and rural regions pose a challenge, as individuals living in remote areas may face barriers in accessing timely and comprehensive fertility treatments.
Key Market Trends
Advancements in Medical Technology
Advances in medical technology, particularly within the realm of In Vitro Fertilization (IVF), have significantly contributed to the growth and evolution of Vietnam's fertility treatment market. These advancements encompass a spectrum of innovations that have enhanced the efficacy, safety, and accessibility of IVF procedures across the country.
Government Support and Policies
Supportive government policies aimed at promoting reproductive health and family planning have provided a favorable regulatory environment for the IVF market in Vietnam. Initiatives focusing on subsidizing fertility treatments, regulating IVF clinics, and advocating for reproductive rights have contributed to the growth of the sector.
Segmental Insights
Technique Insights
Based on the Technique, Intracytoplasmic Sperm Injection (ICSI) IVF has emerged as the dominant technique over Non-ICSI or Traditional IVF methods. ICSI involves the direct injection of a single sperm into an egg to facilitate fertilization, which is particularly beneficial for couples facing male infertility issues such as low sperm count or poor sperm motility. This technique has gained popularity due to its higher success rates compared to traditional IVF methods, especially in cases where conventional fertilization techniques may not achieve successful fertilization.
End User Insights
Based on the End User, medical tourists are increasingly emerging as a significant segment driving growth and diversity. Vietnam's appeal as a medical tourism destination for IVF treatments is growing due to several compelling factors. The country offers competitive pricing compared to Western countries and even neighboring Southeast Asian nations, making it an attractive option for individuals seeking high-quality yet affordable fertility treatments.
Regional Insights
In Vietnam, the dominance of the In Vitro Fertilization (IVF) market varies across different regions, with Southern Vietnam emerging as the leading region for fertility treatments. Cities like Ho Chi Minh City and its surrounding metropolitan area have witnessed significant growth in the number of specialized fertility clinics and IVF centers. This can be attributed to several factors contributing to Southern Vietnam's prominence in the IVF market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $141.4 Million |
| Forecasted Market Value (USD) by 2029 | $216.92 Million |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Vietnam |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Vietnam In Vitro Fertilization Market.
- Hong Ngoc IVF Center
- Vinmec Central Park International Hospital
- Hoan My Thu Duc Hospital
- Hanh Phuc International Hospital
- Van Hanh General Hospital Company Limited
- AN Sinh Hospital
- Phuong Chau International Group
- Hue Central Hospital
- Tu Du Hospital
- Hanoi French Hospital
Report Scope:
Vietnam In Vitro Fertilization Market, By Technique:
- ICSI IVF
- Non-ICSI/ Traditional IVF
Vietnam In Vitro Fertilization Market, By Product:
- IVF Culture Media
- ICSI Machine
- IVF Incubators
- Cryo-system
- Others
Vietnam In Vitro Fertilization Market, By Egg Donor:
- Frozen Non-donor
- Fresh Non-donor
- Frozen Donor
- Fresh Donor
Vietnam In Vitro Fertilization Market, By Infertility:
- Male
- Female
Vietnam In Vitro Fertilization Market, By Embryo:
- Fresh Embryo
- Frozen-thawed Embryo
Vietnam In Vitro Fertilization Market, By Application:
- Fertility Clinics
- Hospitals
- Others
Vietnam In Vitro Fertilization Market, By End User:
- Locals
- Medical Tourists
- Expats
Vietnam In Vitro Fertilization Market, By Region:
- South Vietnam
- North Vietnam
- Central Vietnam
For more information about this report visit https://www.researchandmarkets.com/r/yhpz7t
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